[Code of Federal Regulations]

[Title 31, Volume 3]

[Revised as of July 1, 2005]

From the U.S. Government Printing Office via GPO Access

[CITE: 31CFR537.404]



[Page 176]

 

                  TITLE 31--MONEY AND FINANCE: TREASURY

 

 CHAPTER V--OFFICE OF FOREIGN ASSETS CONTROL, DEPARTMENT OF THE TREASURY

 

PART 537_BURMESE SANCTIONS REGULATIONS--Table of Contents

 

                        Subpart D_Interpretations

 

Sec. 537.404  Purchase of shares in economic development projects in 

Burma.



    The purchase of shares, including an equity interest, in the 

economic development of resources located in Burma, is prohibited when 

those shares are purchased after the effective date directly or 

indirectly from the Government of Burma or a nongovernmental entity in 

Burma, unless purchased pursuant to an agreement entered into prior to 

May 21, 1997. U.S. persons may purchase debt instruments issued by the 

Government of Burma or a nongovernmental entity in Burma, directly or 

indirectly, provided that such instruments are not convertible into 

equity, and do not provide for participation, including as collateral or 

security, in royalties, earnings, or profits in the economic development 

of resources located in Burma.